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Apple products, while expensive in a general consumer goods sense are not anywhere near the pricing of a typical Veblen good, they have never been particularly
by throwaway2048 7y ago
Apple products, while expensive in a general consumer goods sense are not anywhere near the pricing of a typical Veblen good, they have never been particularly status driven throughout their history in either computers or phones, and their sales violate the textbook definition of a Veblen good, sales dropped substantially when prices increased.
Apple is much more in line with a premium brand driven good like Nike, or Sony.
A true Veblen good phone would cost like $20000, be gold cased and nobody you know would own one.
- arethuza 7y agoVertu tried that approach with phones - didn't work out too well: https://en.wikipedia.org/wiki/Vertu https://en.wikipedia.org/wiki/Vertu [Only ever saw them on sales at Heathrow Terminal 5 and Courchevel 1850]